10 Best Stocks Under $3 to Buy Now

6. Lucid Group, Inc. (NASDAQ:LCID)

Share Price: $2.08

Number of Hedge Fund Holders: 24

Lucid Group Inc. (NASDAQ:LCID) is an American company that designs, develops, and manufactures electric vehicles and also supplies advanced EV powertrain systems. The company currently offers its flagship model, the Lucid Air sedan, and the new Lucid Gravity SUV. Lucid Group Inc. (NASDAQ:LCID) ranks among the best stocks under $3 to buy now.

The company is making strategic moves to improve production capacity and expand its vehicle lineup. Lucid Group Inc. (NASDAQ:LCID) began taking orders for its new Lucid Gravity SUV in November 2024. The company also made the Lucid Gravity Grand Touring available to customers in Canada in February 2025. Lucid Group Inc. (NASDAQ:LCID) is focused on expanding its production capabilities through its purpose-built EV factory in Casa Grande, Arizona. Outfitted with advanced production line equipment, the factory will have the initial capacity to produce 10,000 cars annually and more than 300,000 a year after planned expansion.